Top 3 breakout stocks trading below Rs 100

These three equities gained significantly during Tuesday’s trading sessions, indicating strong bullish action.

Here’s an in-depth look.

Lloyds Engineering Works Ltd

Lloyds Engineering Works Ltd exhibits a compelling technical setup. The stock has demonstrated a Price Volume Breakout along consolidation breakout, signifying a strong bullish sentiment. Furthermore, it is currently trading above all key moving averages, reinforcing the positive outlook. The presence of a Bullish long-range candle adds to the bullish signals, indicating a potential continuation of the previous uptrend. The Relative Strength Index (RSI) at 71.87 implies a continuation of the bullish trend, suggesting the stock might be at the start of a strong uptrend. The observed volume spike and successful breakout of consolidation add confirmation to the bullish momentum for the longer term.

Vl E-Governance & IT Solutions Ltd

 Vl E-Governance & IT Solutions presents an intriguing technical picture. The stock has witnessed a Price Volume Breakout along with forming a peanut chart pattern, reinforcing positive market sentiment. Trading above all crucial moving averages is a strong indication of the stock’s strength. The prior breakout of base and uptrend further supports the bullish outlook, suggesting a continuation of the current uptrend. The RSI at 64.45 indicates a healthy uptrend without reaching an overbought condition. A notable volume spike, coupled with a successful volume increase on Tuesday, solidifies the technical strength and potential for further upside. Currently, the stock price seems neutral strength at the trendline.

Orient Ceratech Ltd

Orient Ceratech portrays a promising technical scenario. The Price Volume Breakout, accompanied by the completion of the consolidation range formation, suggests a renewed bullish momentum breakout. The price action from range breakout may reinforce the stock’s strength again. The RSI at 65.43 indicates a good strength to start the trend with favourable conditions. The presence of a Tuesday’s green candle adds a bullish trend start signal, supporting the notion of a potential uptrend. The observed volume spike further validates the bullish momentum, indicating increased market participation in the stock. Overall, Orient Ceratech Ltd appears well-positioned for potential upside movement with possible sudden corrective actions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.